The Ghana Revenue Authority is informing the general public especially, patrons of Lotto that, the implementation of 10% Withholding Tax on the Gross Winnings from all Lottery i.e. Lotto, Betting, Gaming and Other Games of Chance begins on January 1st 2024.
According to the GRA, although the implementation has commenced, the National Lottery Authority (NLA) and Private Lotto Operators (PLOs) were granted a six (6) month extension to enable the NLA/PLOs to prepare and implement the 10% Withholding Tax on Lotto Gross Winnings.
This extension expires in December 2023 and therefore the NLA and PLOs are required to commence the implementation of the Withholding Tax on Lotto Gross Winnings effective January 2024.
“The general public, particularly Patrons /Players /Punters, Operators and Tax Consultants must take note of this directive
Operators are also reminded that failure to comply with the Tax law is an offence and attracts sanctions as prescribed in Section 78 of the Revenue Administration Act, 2016, (Act 915),” a statement from the GRA said.
Source: Kasapafmonline.com
